Is Montgomery, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Montgomery is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Montgomery has remained a Seller's Market.

Key Takeaway

Montgomery is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Montgomery, IL

How much do homes in Montgomery, IL cost?

Median Sold Price

$292,000

$182/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$11,333(+4.0%)

Key Takeaway

Homes in Montgomery have sold for 4% more than they did a year ago.

Summary: The median home sold price in Montgomery was $292,000 in November 2024, up 4% from last year, and the median price per square foot was $182.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $195K$265K
+35.9%
2 $236.5K$246K
+4.0%
3 $274.9K$280K
+1.8%
4 $364.5K$385K
+5.6%
5+ $337.4K$425K
+25.9%

Summary: Montgomery housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35.9%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 25.9%.

Median Sold Price Compared To Nearby Cities

Aurora Township
+9.2%
Sugar Grove Township
+6.6%
Oswego
+5.5%
Montgomery
+4.0%
Oswego Township
+3.9%

Housing Supply in Montgomery, IL

How many homes are available in Montgomery, IL?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
7674-2.6%

Summary: The Montgomery real estate market had 74 homes for sale in November 2024, a 2.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 23
+50.0%
2 77
0.0%
3 4038
-5.0%
4 2320
-13.0%
5+ 46
+50.0%

Summary: The Montgomery housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 13%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
2529+16.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Montgomery, you may be able to get a good deal. 41.4% of homes here sold below asking price last month.

Summary: A total of 29 homes were sold or pending in Montgomery in November 2024, up by 16.0% month-over-month. Of the 29 sold homes, 41% were sold under asking, 21% were sold at asking, and 38% were sold over asking.

Days on Market for Montgomery, IL

How long does it take to sell a home in Montgomery, IL?

Average Sale Time

Nov 2023Nov 2024CHANGE
19 Days20 Days+6.4%

Summary: Homes in Montgomery had an average of 20 days on market in Nov 2024, up by 6.4% compared to last year.

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Montgomery are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 29 homes were sold in Montgomery; 72% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in Montgomery, IL

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